Grantham ECN206 2023 January Week 4 Discussion Latest

Question # 00836891 Posted By: solutionshare7 Updated on: 01/09/2023 08:58 PM Due on: 01/10/2023
Subject Economics Topic General Economics Tutorials:
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ECN206 Macroeconomics

Week 4 Discussion

GDP Deflator

Each week, you will be asked to respond to the prompt or prompts in the discussion forum. Your initial post should be 75-150 words in length, and is due on Sunday. By Tuesday, you should respond to two additional posts from your peers.

Gross domestic product (GDP) is a measure of the market value of final goods and services produced within the borders of a country during a specific time period, usually a year.

What is the GDP deflator?  How does the GDP deflator relate to real GDP?

Review GDP and nominal versus real.  Real adjusts for inflation, so how do we arrive at the real GDP number from nominal GDP?  Review the GDP deflator formula, where GDP deflator = (Nominal GDP/Real GDP) X 100.


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